4.4 • 6.8K Ratings
🗓️ 21 November 2017
⏱️ 33 minutes
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Where is the economy is today – is it growing? Flat? Declining?
What about YOUR economy – your personal investments, your nest egg? How safe is it, and how likely it is to grow at the rate you want it to? When you think about your current investments, how do you feel? Secure, or are you half-panicked?
For many, the recession of 2008 still lingers. Those who suffered are waiting, white-knuckled, holding on to their portfolios and still wondering what to do next. We have, after all, been in one of the longest bull markets in history and bull markets always come to an end at some point. So how do you protect yourself from the possibility of another 2008? And how can you start to take a more proactive, confident approach to your portfolio?
When Tony wrote Money Master the Game, he had the unique privilege of sitting down with some of the most successful, masterful investors and financial gurus of all time - including the legendary Ray Dalio.
Ray founded the investment management firm Bridgewater Associates in 1975 out of his two-bedroom New York City apartment. Four decades later, Bridgewater has grown to be the largest hedge fund in the world, managing over 160 billion dollars, and making more money for its investors than any other hedge fund in history. Dalio himself has appeared on the Time 100 list of the most influential people in the world, as well as the Bloomberg Markets list of the 50 most influential people. And in Money Master the Game, Ray explains just what it means to create a balanced portfolio and even revealed the exact percentages of a simple portfolio that will protect you from the dips and even the dives in the market.
But now - as Ray nears retirement, he has made the decision to share even more of the systems and strategies that have brought him such massive success in his deeply personal book Principles: Life & Work.
Tony recently sat down with Ray to discuss just why Ray felt so inclined to share his wisdom with the world and why Principles is an absolute must-read for everyone - whether you’re in the financial industry or not. And in this episode of the podcast, you will hear from Tony and Ray as they discuss the evolution of Ray’s career, the catastrophic mistakes he made that almost destroyed everything he built, and how the lowest points in his life taught him his biggest lessons. You’ll also hear Tony and Ray discuss their personal beliefs about creating a successful and productive workplace culture, and why everyone should strive to create a meritocracy and invoke “radical honesty” in their lives.
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0:00.0 | Hey guys, welcome back to the Tony Robbins podcast. This is Annie York, editorial director for |
0:12.9 | Robbins Research International. In the last episode, you heard from Tony, an investing legend |
0:18.2 | Ray Dalio, as they dove into Ray's new book, principles, life, and work, |
0:23.6 | covering some of the key lessons that Ray's learned over his lustrous career, and the key tips, |
0:28.4 | tactics, and insights he wants to pass on to others. Now, in this special follow-up episode, |
0:34.5 | Tony catches up with Ray to dig a little deeper into a few core principles |
0:38.1 | that each and every one of us can gain practical and even personal advice from. |
0:44.7 | So first of all, Ray, it's great to hear your voice again, and thanks for taking extra time |
0:48.0 | with us. You know, you recently asked on Facebook what the favorite principle was, or quote |
0:52.5 | from your book from so many people. And I wrote |
0:54.2 | that one of them, for me at least, are so many, was that most of life's greatest opportunities |
0:58.4 | come out of those moments of struggle. It's up to you to make the most out of those tests of |
1:02.4 | creativity and character. And I've always believed that crisis creates breakthroughs for people. |
1:07.5 | Very often people don't do anything until they have to. And so related to that, our viewers are kind of interested in knowing of where the markets are today. |
1:14.5 | And how should investors think about investing an environment that's so driven so powerfully |
1:18.4 | by the Fed? And it kind of a subset of that is really just, well, how should individual investors |
1:23.3 | think about dealing with the inevitable market crashes because people are concerned |
1:28.1 | about market valuations right now. And when we talked before, we didn't really touch on this. |
1:31.6 | So I love to get your point of view about how they can take advantage of these types of environments |
1:35.6 | and how they should think about market crashes. One of the things we try to do is educate people |
1:39.2 | that, you know, corrections happen, you know, for the last 115 years, they happen on average once a year, that we get |
1:44.9 | these crashes every three to five years, which has been a long, much longer time than that on |
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